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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 304,970 $ 348,061 $ 392,085
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 236,101 221,141 199,149
Gain on sale of property and equipment, net (809) (843) (2,467)
Gain on joint venture transaction     (12,500)
Gain on business acquisition     (6,958)
Stock-based compensation expense related to employee stock options and employee stock purchases 30,350 30,354 25,315
Provision for deferred income tax expense 19,810 7,601 4,261
Change in accounts receivable, net (87,098) (38,307) (74,607)
Change in inventories 85,071 (297,678) (324,508)
Change in prepaid expenses and other, net (3,259) 862 1,340
Change in trade accounts payable 81,862 (10,629) 31,438
Change in customer deposits (34,808) 28,803 34,121
Change in accrued expenses (12,199) 7,198 32,789
Other, net (441) (850) (5,058)
Net cash provided by operating activities 619,550 295,713 294,400
Cash flows from investing activities:      
Acquisition of property and equipment (433,047) (368,881) (243,060)
Proceeds from the sale of property and equipment 9,437 2,212 7,124
Change in Notes receivable from affiliate (9,536)    
Business disposition     27,500
Business acquisitions, net of cash (16,364) (16,050) (20,762)
Other 3,933 (4,311) (11,732)
Net cash used in investing activities (445,577) (387,030) (240,930)
Cash flows from financing activities:      
Draws (payments) on floor plan notes payable – non-trade, net (54,265) 205,487 273,906
Proceeds from long-term debt 1,844,528 1,429,083 958,328
Principal payments on long-term debt (1,846,752) (1,291,615) (1,084,465)
Principal payments on finance lease obligations (16,839) (17,693) (14,780)
Proceeds from issuance of shares relating to employee stock options and employee stock purchases 25,377 18,077 13,255
Taxes paid related to net share settlement of equity awards (10,116) (7,017) (8,669)
Payments of cash dividends (55,508) (50,582) (44,556)
Common stock repurchased (15,746) (211,778) (93,709)
Net cash provided by (used in) financing activities (129,321) 73,962 (690)
Net (decrease) increase in cash, cash equivalents and restricted cash 44,652 (17,355) 52,780
Effect of exchange rate on cash (246) 36 118
Cash, cash equivalents and restricted cash, beginning of year 183,725 201,044 148,146
Cash, cash equivalents and restricted cash, end of year 228,131 183,725 201,044
Supplemental disclosure of cash flow information:      
Interest 78,292 56,427 21,694
Income taxes paid, net 76,028 106,872 102,038
Assets acquired under finance leases $ 31,412 $ 43,330 $ 33,654